Developer Davos sees work on multi-million pound property scheme in Liverpool begin after appointing a contractor. Tony McDonough reports
Work has started on a multi-million pound speculative property development in south Liverpool.
Located next to Speke Boulevard, Speke 100 will comprise 97,000 sq ft of space on a 12-acre site. The location is already home to retail outlets including Home Bargains and Costa Coffee.
Davos Property Developments secured planning consent for the project in October 2022. Now it has appointed Barnfield Construction allowing work on the project to begin.
It has appointed agents at B8 Real Estate to find an occupier for the multi-million pound development. It is within two miles of Liverpool Airport, JLR’s manufacturing plant and Speke’s pharmaceutical cluster.
Available to rent at around £7.95 per sq ft, the high-bay unit will include offices on two floors, car parking and 50m service yard along with a range of ‘green’ features. These include EV charging points and secure bicycle storage.
Jon Thorne, who leads the agency team at B8 Real Estate, said: “With continued strong demand for industrial property from occupiers and a shortage of supply, well-funded developers are still keen to deliver much-needed stock to the market.
“Speke 100 is one of the largest single unit facilities under construction in the area. When complete, the building will provide a high quality industrial or warehouse facility in one of the most high-profile positions in south Liverpool.”
Earlier in February LBN reported that demand for grade A industrial and distribution space is outstripping supply across the North West with just six months supply left.
According to the Big Shed Briefing by property firm Savills, demand is set to outstrip supply with low levels of good quality space. It reports a three year average annual take-up of 6.61m sq ft in 2022. This equates to just 0.51 years’ worth of supply.
The report states there are low levels of good quality supply, with data showing that only 17% of the available space is grade A, with 51% being grade B and 32% grade C. Occupiers are seeking newer space due to environmental standards and staff retention.